Member Info for Denzil_212

I’m concerned this will repeatedly allow the price to be hit. We have the previous ‘slide pack’ announcement followed by today, then 23rd Oct, and then if we don’t hit 160k in 4Q, there will be further announcements/slide packs in 4Q followed by annual reports/earnings etc. Need to keep this price up to mitigate the downside.

Yeah, I think it’s just lower production targets from the report. Doubt over board integrity after sandbagging the forecast only to ease us into bad news about the reduction, same as this time last year.
Bright future though. It will just get oversold as usual for a few weeks, and MM’s will shake the tree and then we should come back stronger than ever.

Yeah, it takes them until slide 6 to confirm FY ‘19 at lower end of guidance; I.e. 490kt.

Definitely a 'White Knight' situation. i.e. a takeover by a Party sympathetic to the BoD. Predators like BP are probably circling; Companies who would buy IAE but remove top management and keep the actual workers. BoD acting in their own interests rather than that of the Shareholders. Resist!

An investor in Ithaca said it “strongly urges” shareholders to reject a takeover offer from Israeli firm Delek Group. Delek has offered $524million for the 80% of Ithaca shares it does not already own. The offer puts a premium of about 12% on Ithaca’s closing share price on Friday, giving the company an enterprise value of about $1.24billion. Ithaca’s board unanimously recommended that common shareholders accept the deal. But Cavendish Asset Management, which has a stake of about 3% in Ithaca, has spoken out against the transaction. Paul Mumford, a fund manager at Cavendish, told Reuters: “I anticipate lots of potential deals in the future … . This acquisition would be relatively cheap, and Delek Group will see good payback in a short space of time.”

Playing the waiting game. Feels like Homer Simpson waiting the prescribed five days to get his handgun. 'The waiting is the hardest part'.

Yeah, it disappeared for a while on Monday, and then returned when the name changed. What are everyone's thoughts for the future on this share now? Good to get the chat going again. Any of the £1 club left?!?

Yeah, it's quite clever. All the old, bad history, is effectively gone, unless a new investor does some research. If Avesoro starts to release positive news, make some money, increases SP, then this will look like a shiny new, growing, company.

Does that mean RG took up some of the new subscription and that was the paperwork going through today recognising his increased % share?

Thanks man. It's showing up on TD now.

Does anyone know why I can't buy AUE on TD Waterhouse yesterday or today? Are they not trading during the period of name change? Will I need to buy ASO next week? Cheers.

Yeah, I agree, if they do in fact not take it private, and are in for the long haul (and their own personal gain) then there is money to be made potentially (or should I say, losses to be partially recouped. . . .)

Yeah, I thought I had read it somewhere before. I agree with you!

I just don't get it; why issue director shares if you're going Private? Is the strategy to deplete the share price, issue billions of shares including some to yourself, pile in other companies into the LSE listing, announce the company is running properly at last, then disappear into the sunset when the share multi-bags and makes these guys multi-millionaires?

I have been sceptical of MNG since they came on the scene. I do have a couple of questions though; - Why change the name, only to force out the PI's and de-list the company? It seems like a waste of time unless de-listing was not actually their strategy. - How on earth did they encourage instituational investors to sign up to additional funding, again given apparent strategy of forcing them and us out? A few months ago, the board discussed the theory that the company wanted TSX/LSE stock listing, and after getting Aureus, they may in fact expand the newly named listed company to include some of their other businesses. Hard to see the benefits for them though? Access to equity funding, but a lot more administration would be required. They seem to be doing well as a private group, without needing a listing. Any thoughts?

Dna, I think your first comment could well be spot on. It's a little strange that the institutional investors have agreed to be taken along for the ride and provide more funding. Surely throwing good money after bad. I wonder if they have been promised something in the background. A minimum price per share perhaps in the event of a complete buyout by MNG.

Yeah. Either they know something we don't, or they could be unhinged!?!

I think they were wanting to make the point they aren't going to bother communicating much as they are focusing on the plant. They will probably keep AIM and TSX for as long as they want to issue new shares to contribute to the fundraising effort.

Board information looks pretty good. As does MNG golds other activities in Liberia. Even the MNG Facebook page hasn't been updated for yonks. It seems like communication isn't their strong point. If you search for the CFO (Geoff Eyre) there's a good article from 2012 where he talks about drilling water pumps, paying for teachers etc. in Liberia. I would imagine we are bottom of their list of worries at present. They've just bought a mine which had run out of cash and was polluting the local river. They will be getting it back up and running, and worrying more about the banks than us at present. Once 2Q results are out and they (eventually) provide operations update, we should start to turn the corner. Keep the faith.

I'm positive but apprehensive too. Lack of information does my head in. Everything could be progressing nicely but we have no effing clue. Just a bunch of mug punters (no offence intended!)